USDCHF Forecast
The USDCHF had a moderate bearish momentum yesterday. The bias is neutral in nearest term. Overall I still prefer a bearish scenario at this phase but note that we have to be careful as the bullish engulfing scenario (daily chart) remains valid as long as stay above 0.9716. Immediate support is seen around 0.9790. A clear break below that area could trigger further bearish pressure testing 0.9750 – 0.9716 key support area. Immediate resistance is seen around 0.9856. A clear break above that area would resume the bullish engulfing scenario testing 0.9890 – 0.9950 area which is a good place to sell.

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